Dallas Area Residential Sales Report for July – Richardson TX

Sales off sharply but prices continue to rise.

Single family home sales fell 26% compared to last July but pending sales rose 18% so we can anticipate a positive number for August. Sales prices continue to rise with the average sales price up 24% and the median sales price climbing 20%. There was a nice increase of 20% in the number of new listings but the active listings were down 13%. The months of inventory ( a measure of supply/demand) remains very low at 1.1 months.

Sales: 117

Average Sales Price: $439,363

Median Sales Price: $391,200

Pending Sales: 147

New Listings: 179

Active Listings: 123

Months of Inventory: 1.1 months

Information provided by The Texas Real Estate Center

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